Building on its 155-year history, HSBC aims to support businesses in navigating the evolving global trade landscape. GTS focuses on three key areas: helping customers determine trade partners, providing a safer digital trade experience, and acting as a strategic partner.
In June 2024, HSBC announced the launch of Global Trade Solutions (GTS), a new identity for its long-standing Global Trade and Receivables Finance (GTRF) business. This initiative aims to provide corporate treasurers with enhanced connectivity and real-time data exchange with multiple banks, improving overall efficiency and transparency in managing global trade.
Global Trade Solutions builds upon HSBC’s 155-year history as a trade bank, leveraging its extensive network and expertise to create new ways to connect the world through trade. The new identity focuses on supporting businesses for the future, helping them navigate the constantly evolving landscape of global trade.
HSBC has set out three key ways in which the bank will use its unique strengths to help businesses succeed:
1. Global Connectors: Helping customers determine where, how, and with whom they want to trade.
2. Innovative Problem Solvers: Providing a safer, smoother digital trade experience, supported with structured working capital solutions.
3. Strategic Partners: Acting as a trusted partner through growth, disruption, or uncertainty, bringing insights and ideas to help protect and grow their business.
Vivek Ramachandran, Global Head of Global Trade Solutions, emphasized the importance of HSBC’s rich trade history as a modern-day strength for the businesses they support.
“The launch of Global Trade Solutions marks the next stage in our ambitious global trade journey. Through the power of our networks, HSBC’s business customers can reliably access and connect to the biggest and fastest-growing trade hubs globally, helping them grow and operate across borders, whilst navigating a constantly evolving trade landscape,” he stated.
HSBC’s trade operations currently give clients access to 90% of global trade flows, making the bank the world’s leading trade bank by revenues.
In 2023, HSBC facilitated $850 billion in trade. Clients can also benefit from the bank’s unparalleled network of 1.3 million businesses in more than 50 markets and long-standing relationships with both suppliers and buyers, helping to connect them with the right partners, manage risks, and access finance.
The launch of Global Trade Solutions is just one of the recent changes made by HSBC to its services and operations.
Recently, the bank launched UniTransact in Indonesia to streamline cross-border transactions. HSBC sees much potential in Asia, noting that trade integration in the continent is advancing rapidly. Intra-Asian exports are expected to grow from $4.3 trillion in 2023 to $7.1 trillion in 2030. Among the world’s top 30 trade corridors, 11 involve Asian economies on both ends.
HSBC’s new identity as Global Trade Solutions aims to provide corporate treasurers with the tools and insights needed to navigate the complexities of global trade, ensuring a safer, smoother, and more efficient trade experience. For more information on how HSBC’s global networks can power business growth, visit HSBC Global Trade Solutions.
Leave a Reply